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• Shibarium accused of code plagiarism and BONE dips 17%
• Crypto Twitter feud escalates after new social channels are created
• SHIB Army worried about the situation getting out of hand

Shibarium Accused of Code Plagiarism

Shibarium, the developer team behind the popular memecoin Shiba Inu (SHIB), is facing accusations on Crypto Twitter that its recent Beta code was copied from another blockchain startup called Rinia. This led to a 6.2% drop in SHIB value over the last 24 hours and a 17% dip in Shibarium’s own token, BONE.

Social Media Feud Intensifies

The allegations sparked an intense debate on social media, with several new channels created for people to express their opinions. One high-ranking member of the SHIB Army even pointed out technical discrepancies such as the Chain ID being identical as Rinia’s testnet genesis file – raising more doubts about Shibarium’s coding practices.

The „SHIB Family“ Divided

In response, Shytoshi Kusama posted a message on Discord asking unhappy community members to leave the channel he was part of. This has caused further division within what had been dubbed “the SHIB family” by some of its supporters – with Kusama’s followers moving to new Discord and Telegram channels while his opponents stayed put.

SHIB Dream Calls For Unification

The owner of SHIB Army Social websites, SHIB Dream voiced his concerns in a long thread on Twitter calling for unification between both sides before things got out of hand. He said: “All the people that are part of this Shib Family are getting hurt because of power, control and greed.“
 
 
 
 
   

Conclusion

The situation surrounding Shibarium remains uncertain as no official statement has been made yet by its developers concerning these allegations. It remains to be seen whether these issues can be resolved peacefully or if they will lead to further divisions between members of the Shiba Inu community.

•On March 7th, 2023, China’s State Council announced plans to restructure its financial sector, replacing existing regulatory bodies and consolidating oversight of financial institutions under an administration run by the State Council.
•The proposed administration will take charge of monitoring financial activities surrounding cryptocurrencies and ensure its supervision is „penetrating“ and „continuous.“
•China banned nearly all crypto transactions in 2021, but is now aiming to strengthen cryptocurrency supervision.

China Proposes Institutional Overhaul

On March 7th, 2023, China’s State Council, the cabinet, unveiled plans for one of the biggest institutional overhauls in the country. The government aims to restructure multiple sectors, including financial regulation, to reform institutions nationwide. The proposed overhaul of the financial sector will consolidate oversight of financial institutions under an administration run by the State Council.

State Administration Will Replace Existing Regulatory Bodies

According to the new reforms, the state administration will replace existing regulatory bodies and overtake certain functions of the central bank and securities regulator. With the new set-up, the state-run financial institution would also overlook all financial activities, including those surrounding cryptocurrencies. Consolidating Control China’s State Council submitted the plan to the first session of the 14th National People’s Congress for deliberation on March 7th, 2023. The legislature will vote on institutional reforms on Friday, March 10th , 2023 .

New Administration To Take Charge Of Crypto Transactions

The proposal follows a call for intensified reforms from Chinese President Xi Jinping for party and state institutions in the country. As per the cabinet ,the revamp aims to focus on reforming and adjusting responsibilities of institutions , especially in critical areas such as financial supervision . Currently , China ’s financial sector is overseen by three regulatory bodies – PBOC , CBIRC ,and CSRC . Under new reforms ,government will abolish these regulatory bodies moving their responsibilities towards a new state administration directly under cabinet which would oversee regulation of finance industry except securities sector . It would also take charge over specific functions like monitoring crypto transactions previously handled by PBOC & CSRC ensuring its supervision is “penetrating” & “continuous”

China Banned Crypto Transactions In 2021

In 2021 ,China banned nearly all crypto transactions despite being one among few countries that have embraced blockchain technology for various use cases across industries . But now with this reform it is aiming strengthen cryptocurrency supervision .

Conclusion

The recent reform proposal from Chinese cabinet has brought forward a major change in its current policy towards cryptocurrency allowing more involvement from government in regulating them while at same time providing more clarity regarding their usage within country’s boundaries

• Bitcoin has been attempting to break above the resistance level at $23,650.
• Ethereum has grown slowly after rebounding from the $1,565 support zone.
• Technical indicators show bullish signs for BTC and indecision for ETH.

Bitcoin Attempts to Break Above $23,650

Bitcoin has been attempting to break above the resistance level at $23,650 with technical indicators showing bullish signs. If the BTC/USD pair succeeds in breaking through this level and then clears the $24,000 resistance zone, it could continue climbing towards $24,600 and possibly even higher. However, if Bitcoin fails to break the resistance levels in the short term then a slow decline is likely with immediate support near $23,220 and further down near $22,750.

Ethereum Rebounds from Support Zone

The Ethereum price is slowly climbing above the $1,620 resistance level against the US Dollar. After reaching a crucial support zone of $1,565 it has gradually recovered and is now trading above $1,620 at press time. For Ethereum to continue gaining momentum it must break through both the $1,650 and $1,670 resistance levels.

MACD and RSI Show Momentum

The Moving Average Convergence Divergence (MACD) indicator is currently demonstrating upward momentum for Bitcoin which indicates that buying pressure is stronger than selling pressure when MACD is in a bullish zone. The Relative Strength Index (RSI) for BTC/USD also shows positive results as it stands above 50 at press time suggesting that buying pressure remains strong.

Ethereum Moves Independently of Bitcoin

Although traditionally Ethereum follows Bitcoin’s lead on market trends lately it has started moving independently of its elder counterpart which means that although positive news about Bitcoin can influence prices positively for Ethereum this no longer seems to be always true as seen by its recent recovery from a crucial support zone despite lack of movement from Bitcoin’s price around that same time.

Conclusion

At present both Bitcoin and Ethereum are trying hard to gain momentum with technical analysis suggesting bullishness for BTC while indecision still lingers over ETH but should either asset manage to break above their respective current resistances they may see considerable gains in their prices soon enough

• Decentraland is holding an emote contest ahead of its second annual Metaverse Fashion Week
• The event will reward winners with 800-600 MANA and the winning emote will be featured in the Community Fashion Show
• Submissions are open from February 16th to March 20th, and participants can submit up to three emotes

Decentraland Holds Emote Contest

Decentraland has announced it is holding an emote contest ahead of its second annual Metaverse Fashion Week. Players can participate in the event for fun and exciting awards. The virtual fashion event is highly anticipated by Decentraland users every year.

Get Your Emotes Ready

Starting February 16, participants can participate until March 20th in the Metaverse Fashion Week 2023 Emote event. Decentraland will feature the first-place winning emote in the Community Fashion Show and distribute 800 MANA to them. The metaverse will also be rewarding the second to fifth-place winning emote with 600 MANA. All contestants must publish their emotes in the Marketplace and submit their best creations for the runway by filling out a dedicated form.

Contest Rules

Emotes must be approved and published in DCL marketplace before submission deadline, should be related to Metaverse Fashion Week 2023, and intended only for runway use. Participants can submit up to three emotes but can only claim one prize each time they win. By submitting emotes, contestants give consent for Decentraland using submissions for marketing purposes. Winners must share their email address with Decentraland so rewards may be deposited accordingly into their wallet addresses provided through dedicated forms .

Judging Panel

Shibu, Art Director at Decentraland; Isa Souza Gomes, 3D animator at Decentraland; PeanutButta, Community Manager at Decentraland; will judge all entries based on fluidity, movement realism, originality/uniqueness and overall impression of creativity during evaluation process..

Rewards & Prizes

First place winner’s emote will feature in Community Fashion Show plus receive 800 MANA as reward while 2nd – 5th place winners‘ emotes receive 600 MANA each as prizes during Metaverse Fashion Week 2023 Emotion Event Contest

• OKX is facilitating a platform for individuals globally to contribute and support the earthquake victims in Türkiye using cryptocurrency.
• The campaign is open to all crypto holders around the world and OKX will match the funds raised to one million.
• This demonstrates the potential for cryptocurrency to be used for humanitarian purposes.

OKX Launches Community Campaign to Aid Türkiye

The global crypto community has been invited to support the earthquake relief efforts in Türkiye by making contributions with various cryptocurrencies, including USDT, BTC, ETH, and OKB/OKT. OKX is matching contributions up to ₺1 million in collaboration with Paymount, a platform for secure and fast cryptocurrency payments.

Tragedy Strikes Türkiye

On February 6, 2023, a devastating 7.8 magnitude earthquake struck southern Türkiye near the border of northern Syria. The tragedy was compounded by a second 7.5 magnitude earthquake nine hours later, followed by aftershocks resulting in the loss of countless lives and leaving many others injured.

Invitation To The Global Crypto Community

In support of victims, OKX has launched a web campaign that invites individuals globally to contribute and aid those affected by this disaster. All contributions will be converted into Turkish Lira with Paymount at 4pm GMT daily and then transferred to AHBAP and AFAD at 4:30pm GMT who will use this money to provide necessary medical aid, food, water, shelter, and reconstruction supplies.

Potential Cryptocurrency Use For Humanitarian Purposes

The campaign highlights the potential of cryptocurrency being used not only as an investment but also as a means to unite people from all over the world for a common cause like providing relief efforts during times of need or disasters such as earthquakes or pandemics.

Contributions Welcome From Around The World

Those interested can find more information about contributing on OKX’s website and join this global effort for Turkish relief organizations AHBAP and AFAD through their crypto holdings now!

• Senator Wendy Rogers of Arizona has introduced a bill that seeks to make Bitcoin legal tender in the state.
• If the bill passes, it would mandate the acceptance of Bitcoin as a legal currency for the settlement of debt and exchange for goods and services in Arizona.
• This is the second time Senator Rogers is pushing for Bitcoin to be legal tender in Arizona, as she introduced a similar bill in January 2020.

Senator Wendy Rogers of Arizona has recently proposed a bill that aims to make Bitcoin legal tender in the Grand Canyon State. According to the bill, Bitcoin is defined as a „decentralized, peer-to-peer digital currency in which a record of transactions is maintained on the Bitcoin blockchain and new units of currency are generated by the computational solution of mathematical problems and that operates independently of a central bank“. If the bill becomes law, it would mandate the acceptance of Bitcoin as a legal currency for the settlement of debt and exchange for goods and services in Arizona. This would affect both businesses and individuals within the state, leading to more publicity for the firstborn crypto.

However, the bill does not include other cryptocurrencies. This is the second time Senator Rogers is pushing for Bitcoin to be legal tender in Arizona. In January 2020, she introduced a similar bill, but it did not pass the second hearing. Senator Rogers‘ determination to make Bitcoin legal tender in the state is further enhanced by the introduction of a secondary bill that addresses payments in cryptocurrencies for state agencies. The secondary bill stipulates the right of a state agencies to make a deal with an entity that issues cryptocurrency. The agreement would authorize the state to accept cryptocurrency as payment for fines, penalties, rent, taxes, fees, and other financial obligations.

If the bill passes, it would make Arizona the third state in the US to legalize Bitcoin as a legal means of payment, following El Salvador and the Central African Republic. This is a huge step towards cryptocurrency becoming a widely accepted form of payment, as it would potentially encourage other states to consider the same. Moreover, the move would make Arizona a hub for blockchain development and cryptocurrency innovation, bringing in more opportunities for the state.

Overall, Senator Rogers‘ efforts to make Bitcoin legal tender in the state of Arizona could be a game changer for the world’s largest cryptocurrency, and potentially the entire crypto market. It remains to be seen if the bill will pass, but the possibility of it becoming law is a positive sign for the future of cryptocurrency.

• Welly – a Shiba Inu-themed burger venture – recently announced plans to open a branch in Dubai.
• The team behind Welly is currently seeking partners and investors in its goal to launch a store in Dubai.
• Dubai is one of the most crypto-friendly regions in the Middle East and globally, as it has seen both private crypto-focused investments and growing government interest.

Welly, a Shiba Inu-themed burger venture, recently announced their plans to open a branch in the bustling city of Dubai. By doing so, they will be introducing the Middle East to the ever-growing meme coin project. The team behind Welly is currently looking for partners and investors to help them launch their store in the heart of the Middle East.

The store will be managed by the Welly team, and they are not looking to open a franchise, but an autonomous outlet under the umbrella of a new company. Stefano Gugl, the co-founder of Welly, recently revealed the news through his Twitter handle and has provided his contact email for any partners looking to reach him.

Dubai is one of the most crypto-friendly regions in the Middle East and globally, as it has seen both private crypto-focused investments and growing government interest over the past few years. As a result, Welly’s search for partners could be a short one. After their partnership with Shiba Inu, Welly received over 300 franchise applications from investors looking to partner with them. Last April, they also rebranded their logo to suit a theme focused on Shiba Inu.

The launch of Welly in Dubai will be a major milestone, not only for the meme coin project, but for the city as well. As one of the most populous cities in the United Arab Emirates, Dubai is quickly becoming the hub for cryptocurrency and blockchain technology, and the addition of a Shiba Inu-themed burger venture will only enhance their standing in the tech world.

With the help of their new partners and investors, Welly is determined to make their venture a success in the Middle East. Their goal is to bring their unique brand of burgers to the masses, and to help spread the word about the ever-growing meme coin project. The team is confident that their venture will be a success, and they look forward to introducing Dubai to the world of Shiba Inu.